Central Pattana is investing Bt10 billion to develop CentralWestGate, set to be Asia's prototype of a super regional mall and turn Thailand to a regional shopping hub.

Located in Bang Yai, a major hub of rail and roads in Bangkok, CentralWestGate is a combination of shopping mall, lifestyle complex, state-of-the-art entertainment complex, a world-class attraction, and a residential project. The project will comprisea total of 1,000 anchor stores and super-sized shops of both Thai and international brands, including world-famous fashion brands. It will be the new dining destination that combines restaurants to meet every preference. The project will open early in 2015. It is expected that the project will serve more than 200,000 customers each day.

"This is a major investment for CPN, which will promote Thailand as a retail leader in the region. With the project, Bangkok and Thailand will become a regional shopping hub, like other major cities of the world. CPN has chosen the Bang Yai Intersection as the project location. The area has high potential and is suitable to be a "new city", which will have soaring growth. Bang Yai will become Thailand's new Central Business District (CBD) and a new residential area, which corresponds with the government's city expansion policy," said Wallaya Chirathivat, CPN's Senior Executive Vice President for Business Development, Design & Construction.

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Originally Posted by napoleon

CentralWestGate: A super mall in the making

The Nation January 30, 2013 1:00 am

The Bt10-billion CentralWestGate mega-mall in Nonthaburi is expected to transform Bang Yai into a new central business district outside Bangkok proper.

The project will create more than 10,000 jobs when it is completed in 2015. It will also drive residential growth in Nonthaburi's Bang Yai district to exceed 150,000 units within five years from 50,000 units worth Bt150 billion currently, based on residential projects launched in this location.

Central Pattana is positioning CentralWestGate as a prototype super regional mall for Asia.

"We believe that this is a new lifestyle mall with more than 1,000 anchor stores and super-sized shops of both Thai and international brands," Wallaya Chirathivat, senior executive vice president for business development, design and construction, told a news conference yesterday.

Central Pattana, the retail property developer of Central Group, is targeting the western suburbs of Bangkok, where the government is planning many infrastructure mega-projects such as the MRT Purple Line, the West Outer Ring Road, the Chon Buri Motorway and a third-stage expressway connecting the West Outer Ring Road and Chon Buri Motorway. Bang Yai Intersection serves more than 85 million cars each year on the 12-lane Kanchanapisek and 10-lane Rattanathibet roads.

The 24th shopping centre of the group will be a mixed-use project occupying 100 rai (16 hectares), with 70 per cent for the retail complex and 30 per cent for residential and commercial buildings. It will offer 500,000 square metres of retail space, 5,000-6,000 condominiums and a commercial building such as an office tower.

Central Pattana took out a 30-year ground lease from the landowner, Vantage Group Co, which is held 100 per cent directly and indirectly by the Chirathivat family.

This project will be developed in three phases. The first phase is the retail complex, which will cost Bt10 billion for both land and construction. The second phase will be the residential complex aimed at the middle- and upper-income markets. The last phase will be the commercial building, Wallaya said.

"We cannot say how much the budget for the next two phases will be. It may be nearly Bt10 billion or more depending on the project design in the next step. However, for the residential phase, the lease might be revised to be sold. That will be done again when the project is completed," she said.

The company projects 200,000 customers a day when the project holds its grand opening in 2015, the same year that the Asean Economic Community becomes effective.

The project is expected to serve the AEC because of its location linking the western part of metropolitan Bangkok, especially from Bang Yai to Kanchanaburi, to Dawei Port on the Andaman Sea.

The company aims to add about three branches a year to boost its local network from 20 properties in 2012 to 30 branches in 2015, bringing on line 1.54 million square metres for an average increase of 10 per cent a year. This year the plans calls for three new shopping centres - one in Ubon Ratchathani in the second quarter and two in Hat Yai and Chiang Mai in the fourth quarter - followed by four shopping centres in 2014 and three more in 2015.

The company has secured sites for the new shopping complexes, including the old Suan Lum Night Bazaar and the old Thai Melon Polyester factory, which sat on a 616-rai parcel on Phaholyothin Road behind the Red Line tracks.

Ralph Lauren Thai condos could fetch record prices
23 Jan 2013
News : A Ralph Lauren-branded development is tipped to be Thailand’s most expensive condo project.

The Stable, on a two-acre site at Wireless Road, Bangkok, is to be launched by leading property developer Sansiri.

It will be Thailand’s most expensive condominium project, reports top Asia property website, DDProperty.

One property blogs suggests the project could be worth THB5,000million/US$167million/£100million and will be targeted at wealthy Thai and overseas buyers.

The developer is thought to have paid a record price of THB1.5 million per square wah, which equals THB375,000 US$12,500/£8,000 per square metre, when it bought the land in March 2010. The site used to house the Spanish embassy.

Andrew Batt, International Group Editor of PropertyGuru, which DDProperty belongs to, tells OPP Connect, “The Sansiri development on Wireless Road will also be Asia's first Ralph Lauren-branded residence. The developer paid a record price for the land plot back in March 2010.

“Bangkok's condominium sector, especially at the low- and mid-ends of the market but luxury sales have been few and far between. The market was dominated by local buyers last year.”

The terminus will house four platforms for community trains, 12 platforms for long-distance trains, eight platforms for future use, a ticket office, a ramp to connect to the subway system and a multi-storey car park.

Presiding over the contract signing ceremony, Transport Minister Chadchat Sittipunt said he would push for the construction to be completed within two and a half years.

He said the Bang Sue station will play an important role in the country's mass transit system because it will serve as a hub for all the country's electric rail networks. He said there will be good connections to other modes of transport, unlike with the Makkasan Airport Rail Link station which was not properly connected to other forms of transport.

The contract signed yesterday was part of the Bang Sue-Rangsit section of the Red Line electric railway project.

The second contract of the project concerns the construction of the railway track between Bang Sue and Rangsit. Project creditor, the Japan International Cooperation Agency, is reviewing investment details. The minister expects the signing to take place next month.

The third contract for the Bang Sue-Rangsit project is for the procurement of trains. Officials are examining the shareholding details of a potential contractor before this is signed.

Mr Chadchat said Japanese Prime Minister Shinzo Abe, who paid a visit this week, had expressed Japan's interest in Thai infrastructure projects, especially in transport such as high-speed railways.

The minister said he has encouraged Japan to bid for high-speed railway contracts in the future.

Mr Chadchat said bidding contest terms for the signalling system and train procurement would be announced in the third quarter of this year.